Practical ideas: Include risk management KPIs into individual performance reviews

Once risk management roles and responsibilities have been documented in job descriptions and committee charters then appropriate and measurable KPIs should be developed. Just like anything else, risk management KPIs need to be integrated into the overall performance management system. Risk management is everyone’s responsibility. Yet, our research shows that managing risks is not natural…… Continue reading Practical ideas: Include risk management KPIs into individual performance reviews

Great debate – ERM good or bad?

Mark your calendars. Another great risk management live debate is coming up. This time I am meeting Chris Mandel to argue whether ERM a value-adding concept or yet another consulting bag of tricks? Is this a useful concept that adds value to the decision makers and the organization as a whole, or is it just…… Continue reading Great debate – ERM good or bad?

Practical ideas: Regularly evaluate risk management culture

Every risk manager we have interviewed explained to us that periodic risk culture evaluations help strengthen the risk culture. So, we wanted to give readers some practical ideas around it. There are multiple models which can be used to assess the current state of risk culture, including the risk culture framework developed by the Institute…… Continue reading Practical ideas: Regularly evaluate risk management culture

COSO ERM:2017 vs ISO31000:2018?

Join Alex Sidorenko from RISK-ACADEMY to talk about pros and cons of COSO ERM 2017 and the upcoming ISO31000:2018. Find out why both standard and framework miss a huge opportunity to better integrate into decision making and move away from flawed qualitative tools and what should you do to help your decision makers take informed…… Continue reading COSO ERM:2017 vs ISO31000:2018?

Practical ideas: Update existing policies and procedures to include elements of risk management

Most modern-day risk managers are familiar with developing a risk management framework or procedure documents. These documents capture risk management roles and responsibilities, outline risk management processes as well as other aspects of risk management.  Risk management framework documents became so common, that nowadays they don’t require much effort to develop and there are plenty…… Continue reading Practical ideas: Update existing policies and procedures to include elements of risk management

Practical ideas: Include risk management roles and responsibilities into existing job descriptions, policies and procedures, committee charters

Risk managers may begin the implementation of the selected risk governance model by documenting risk management roles and responsibilities. It is quite common to describe risk management roles and responsibilities in risk management policy or a framework document. This approach seems simple to implement, yet not very effective, as business units often don’t feel ownership…… Continue reading Practical ideas: Include risk management roles and responsibilities into existing job descriptions, policies and procedures, committee charters